Deteriorating UK-EU Trade Talks... "European Parliament May Veto Without Safeguards"

[Image source=EPA Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] As the European Union (EU) and the United Kingdom face difficulties in trade negotiations following Brexit (the UK's withdrawal from the EU), the European Parliament has raised the possibility of exercising a veto if the agreement does not include provisions to protect the single market. EU member states are demanding preparations for a hard Brexit, which would occur without any agreement, as the deadlocked negotiations become even more challenging.

On the 10th (local time), the daily newspaper The Guardian reported that it had confirmed a draft resolution prepared by the European Parliament stating that a veto could be exercised if there are no strong protective measures for the single market in the EU-UK trade negotiations. The protective measures requested in the resolution are said to guarantee fair competition, as well as strong standards for environmental and workers' rights. This resolution is expected to be discussed and put to a vote on the 12th.

The UK and the EU have been conducting trade negotiations since Brexit was implemented on January 31. According to the agreed terms, the deadline for future relationship negotiations is the end of this year, and to extend this deadline by one to two years, both sides must reach an agreement by the end of this month. However, the UK has refused to extend the deadline, making it practically difficult to change the timeline.

The problem is that both sides are at an impasse. The fourth round of future relationship negotiations was held last week, but the talks ended with only confirmation of their differences. A UK government official told foreign media the day before that there was no progress in the negotiations and that the EU needs to show a more flexible attitude.

[Image source=EPA Yonhap News]

In response, Michel Barnier, the EU's Brexit negotiation representative, held a press conference that day and pointed out that the UK wants to leave the EU single market but still receive benefits similar to those of member states. He criticized, "(The UK) wants more in many areas than other EU partner countries like Canada or Japan," adding, "They want to receive benefits within the single market without controls, maintain benefits without obligations, and selectively receive only the benefits."

Since the positions of both sides have not narrowed at all since Brexit in January, increasing the possibility of a No Deal related to trade negotiations, EU member states are emphasizing the need for preparation. Belgium and Ireland, which are expected to suffer the most damage if a hard Brexit occurs, recently stressed at a gathering of EU diplomats that concerns about Brexit should be included in discussions on the COVID-19 recovery fund.

This content was produced with the assistance of AI translation services.